On January 1, 2016, Chen Company issued $300,000 of five-year, 6 percent bonds at 101. Interest is
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On January 1, 2016, Chen Company issued $300,000 of five-year, 6 percent bonds at 101. Interest is payable annually on December 31. The premium is amortized using the straight-line method.
Required
Prepare the journal entries to record the bond transactions for 2016 and 2017.
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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